RBI Governor Raghuram Rajan made a case for more coordination in monetary policies by different central banks to deal with the spillover effect on emerging markets. He said that central banks should reinterpret their domestic mandate to take into account other country reactions over time, and thus become more sensitive to spillovers.
Category: Infrastructure Finance
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ADB may fund Chennai-Vizag corridor
Asian Development Bank (ADB) has shown interest to back an industrial corridor along the coast of Andhra Pradesh, giving a confidence boost to the state as it prepares for a new life without Telangana and Hyderabad.
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Fresh RBI norms for bank licences
According to the Finance Ministry, more players will soon get bank licences as the Reserve Bank of India (RBI) will come out with fresh norms on new bank licences in the next four months. In April, RBI had issued bank licences to IDFC and Bandhan Financial Services, out of 25 applications.
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Over 100 large projects await bank funding
Over 100 projects, including from Tata Steel and Hindalco, sought financial assistance from public sector banks during January-March 2014. The industrial houses are pinning hope on the new government to boost sentiments, especially in manufacturing and capital goods sectors.
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Foreign investment inflow to double
Foreign investment in the Indian economy is expected to more than double, with inflows from both foreign direct investment and foreign institutional investors set to surge above $60 billion in the current financial year, compared with the $29 billion in 2013-14, an ASSOCHAM note has projected.
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New FM seeks separate paper on GST
The new Union Finance Minister Arun Jaitley has asked the revenue department for a separate presentation on the proposed tax reform towards Goods and Services Tax (GST). Expenditure, revenue and disinvestment departments had made presentations to the minister on 28 May.
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Diamond rail link may tap sovereign funds
The new government's big infrastructure project idea of a 'diamond quadrilateral railway project' to connect all the four metropolitan cities with high-speed rail, could mean a tapping of sovereign wealth funds to finance the mammoth cost, estimated to be at least Rs 12 lakh crore.
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The new alternative
Despite sluggishness in the infrastructure sector, Alternate Investment Funds managed to attract the maximum amount of investments during the year,
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Bandhan to start 600 branches
Bandhan Financial Services plans to begin its banking journey next year with around 600 branches. Bandhan will operate in the rural belt and in the unbanked areas of the country.
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Exim Bank to set up PDC with African Development Bank
Exim Bank will soon set up a Project Development Company (PDC) in association with the African Development Bank, a multilateral institution for 55 African countries. According to David Rasquinha, Executive Director, Exim Bank